FX.co ★ GBP/USD Intraday technical analysis June 30, 2011

The GBP/USD currency pair remains under selling pressure as long as it's trading below 1.6300 targeting breaking of 1.5900 .

1.6300 remains the most important resistance level on the short , middle term .

The pair is testing the resistance level 1.6100

This area of resistance is a confluence of : the upper limit of the bearish channel + previous buttom .

The pair seems to rebound of this level .

Selling is recommending near 1.6100 with TP at 1.5910 , 1.5850 , 1.5810 .

SL should be placed above 1.6300 .